The Accounts Receivable Department (AR) assists University departments who extend credit to external customers and bills for the sale of goods and services. External customers include individuals, corporations, foundations, state and federal agencies, or other groups outside of the University. The AR Department does not assist with interdepartmental billings or with student charges. Individual student billings should be processed through the Student Information System (SIS). Contact the Assistant Vice President for Student Financial Services for more information related to student billings.
By utilizing the Integrated System, the AR Department is able to fully meet the state’s guidelines for management of receivables by providing centralized invoicing to external customers; the application of payments; and collection efforts when needed. A few of the services and benefits offered to University departments by AR include
- printing and mailing of invoices and follow-up correspondence with no fee to the department;
- daily posting to the General Ledger for all transactions, including invoices, payments, cancellations, and write-offs;
- immediate credit to departmental revenue for the amount of the invoice when it is entered into the system;
- processing all payments, which eliminates the need to handle and deposit funds at the department level;
- providing an option for customers to make online payments using their credit card or checking account;
- prompt follow-up on unpaid bills;
- provide departments with reporting related to monitoring receivable activity;
- compliance with University and State receivables management and reporting requirements; and
- compliance with Federal, State and University regulations, such as the Fair Credit Billing Act.
These benefits eliminate the need for independent billing systems supported and funded by the individual departments. After completing training for the AR module, department personnel will be granted access in the Integrated System to enter customer records, create invoices, and adjust existing invoices as needed.
For additional information on the benefits of being an AR Billing Department or questions about the University of Virginia's Accounts Receivable Department, please contact us at: .